Apparently anyone employed less than 5 years is sol, and won't be getting a pension. The pyramid may be crumbling.

That's a shame. Will they have a 401K to replace it? I will enjoy a decent retirement thanks to my teacher's pension. I don't know how I would be able to retire otherwise.

donbagley Wrote:
-------------------------------------------------------
> n/t


Which in humans mimics cranio-rectal inversion.

Too bad though that our glee is another's sorrow. :o(

Bankruptcy is getting nearer.

The only thing left is for them to sell a temple.

The end is near.

Sell a temple to one of those big mega prosperity gospel churches. Oh, wait, how silly of me, the LDS church is a large prosperity gospel church.

I hope the house of cards and dollar bills is about ready to implode. Hope I happens when I'm still here to enjoy it.

Ron Burr

By "enjoy" I trust that you are referring to the personal validation for yourself. Not to all the personal devastation of others.

If the grande finale comes quickly, there could be a lot of people suddenly experiencing the worst of what gets reported on this board. There could be people who just signed the final divorce decree brought on by an unfaithful (to the church) spouse; then they find out all that legal agony was for nothing.

There would definitely be a whole bunch of missionaries in the field. They would have to stop mid-sentence and start back-pedaling.

And what of all the people trapped in space on a hie to Kolob?

JAR

p.s. Can you imagine, after the collapse, all the die hards making the trek on foot to Missouri all at once in order to prove it's all just anti-Mormon lies?

> (p.s. Can you imagine, after the collapse, all the
> die hards making the trek on foot to Missouri all
> at once in order to prove it's all just
> anti-Mormon lies?)

ROTFLMBO!

Karma is a bitch....

Ron Burr

Hardly anybody aside from state government does defined-benefit pensions anymore.

The last time I looked at an LDS benefits package was a couple years ago, and it was defined-contribution. I imagine the church is going to move to a 401k system for everybody with an unvested pension or new employees.

Exactly. Only about 1/4 of large companies still offer pensions, and that number is declining rapidly. Many companies started phasing them out over 10 years ago, so most employees under 40 only have their 401k with employer matching.

Just yet another prudent business management technique whereby the business gets richer and the workers get screwed.

LD$ Inc indeed.

When I worked for the church, the minimum vestment time was 7 years.

They're just doing what other corporations have done. Keeping more for themselves.

... or they just postponed it to the Hereafter where everything will somehow get sorted out.

That's a very interesting turn of events in terms of upper management and/or mismanagement looking at termination of employee pensions as a buffer zone between lost monies/revenue.

Do you have any solid facts other than "just hearing about it"???

Would be quite interesting to know.

Or so it seems to me...

Retirement Plan Changes



BYU-Idaho Employees:



Periodically, Deseret Mutual and CES review the retirement benefit plans offered to employees. Following a recent review, some changes to the plans have been approved.



The changes, which will go into effect on July 1, 2015, apply only to those who became eligible for benefits on or after April 1, 2010. Retirement plans are not changing for employees who were eligible for benefits prior to April 1, 2010.



A meeting to discuss plan changes will be held on Thursday, February 5, 2015, in the Taylor Cultural Hall (room 170) at 11 a.m. with a repeat session to be held at 2 p.m.



Employees who became eligible for benefits on or after April 1, 2010, are encouraged to attend one of the two information sessions to learn about the plan changes.



Thank you,



Kevin Price

Director, Human Resource Services

My employer has watered down the defined-benefit part of the retirement plan a couple of times over the last 25 yrs, but each time it was effective for employees hired that day forward

So, the person that started working for the church in 2002 and 2003 is save because of the 7 years it takes to be vested in teh retirement plan.

I wonder if others will just find a new job and quit. With the pension going away, there is no way to continue taking a beating everyday working for TSCC if the pension is going away.

Another story link:
http://www.sltrib.com/lifestyle/faith/2149448-155/mormon-church-moving-workers-from-pensions

The church labor force must be downsizing, I have a friend who just got laid off of ksl as well for working just under a year. Jobs are getting more uncertain.

Why pay out anything when retired people are queuing up to do the work for free? A better business model would be to sack them all and use the many retired people to do the dirty Shiz for you.

I wonder if the apostles and 70 lost their pensions? Of course who would know because the LDS corporation is the least transparent for profit or non profit organization I know. Some brave reporter should ask what is happening at the top.

My former employer, Hewlett-Packard, canceled their pension plan years ago and left their 401k and employee stock purchase plan with company subsidy intact.

I retired two years ago with Enhanced Early Retirement payout of 14 months salary for leaving early. Not bad at all. I later learned that ALL of the payout money was taken from the pension fund. HaHaHa. Didn't cost HP anything beyond administration costs. No wonder they were so generous. But I'm glad they did what they did. Worked well for me.

Sorry, but people who work for a shyster corporation should expect to be shysted. Geeze! It's bad enough just being a TBMember. Can't imagine the thrill of being a TBEmployee.

My elder brother works for BYU facilities and says he likes his job. He's in his stake presidency and enjoys a hint of local celebrity status. He talks and sounds just like a GA with that slow, nearly flat cadence. I have no problem with him being TBM. Life is full of choices. He and his eternal companion have spawned several dozen tithe payers, so he is fulfilling his destiny admirably.



Edited 2 time(s). Last edit at 02/09/2015 06:26PM by beyondashadow.

Does that include pensions for emeritis seventees? I imagine some of them leave the church, but fear speaking up against the church out of contract, risking the loss of cushy retirement pensions and benefits.

... you just buy their souls. Jesus' brother nailed it:

"You can buy anything in this world for money."

http://www.ldsendowment.org/telestial.html

Whodathunk that would become the core operating principle of The Kindgom of God on Earth?



Edited 3 time(s). Last edit at 02/09/2015 06:32PM by beyondashadow.

Outta the deal!

I am amazed that some people consider this okay because other companies have already raided their employees pensions.

I think big business in this country has no idea how close the torches and pitchforks actually are.

Take therefore no thought for the morrow, for the morrow shall take thought for the things of itself.

They must have a heads up on the second coming.

This just in ...

BULLETIN BULLETIN BULLETIN

The Second Coming will NEVER happen.

The Resurrection and Millennium will NEVER happen.

Count the number of people who were sure Jesus would come again during their lifetime.

But ... the Church is Twoo.